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Business News Summary Headlines

Company releases, economic news, and business coverage.

United, American begin selling cheaper economy-class fare

DALLAS - American and United have started selling cheaper "basic economy" fares as they battle discount airlines for the most budget-conscious travellers.

American announced early Tuesday that it began selling the new fares for flights starting March 1 on 10 different routes from its hub airports in Dallas, Miami, Philadelphia and Charlotte, North Carolina.

Tuesday, February 21, 2017 | 06:46 PM

Maple syrup producers face challenges in warming world

DURHAM, N.H. - New Hampshire's maple syrup producers say they are feeling the impact of climate change, as winters become warmer and frigid nights so critical to their business become fewer.

Producers joined climate experts and Democratic U.S. Sen. Maggie Hassan of New Hampshire on Tuesday to talk about the state's changing climate and how it is affecting one of the state's most important industries.

Tuesday, February 21, 2017 | 06:44 PM

Lowe's announces layoffs for more than 500 full-time workers

MOORESVILLE, N.C. - Home improvement retailer Lowe's has announced its second round of layoffs in just over a month, saying more than 500 full-time corporate employees companywide will lose their jobs.

Local news outlets report Lowe's announced Tuesday that 430 workers at its headquarters in Mooresville would be laid off. In addition, 70 support staffers in Wilkesboro and about 25 corporate support positions in other facilities across the U.S. would lose their jobs.

Tuesday, February 21, 2017 | 06:35 PM

Court considers constitutionality of Ohio execution process

COLUMBUS, Ohio - A federal appeals court plans to consider arguments over the constitutionality of Ohio's lethal injection process as the state tries to start carrying out executions once again.

At issue is whether a contested sedative, midazolam, is powerful enough to put inmates into a deep state of unconsciousness before two subsequent drugs paralyze them and stop their hearts.

Tuesday, February 21, 2017 | 06:24 PM

A look at some key elements of the 2017-18 budget

VICTORIA - A look at some of the major elements of the B.C. government's 2017-18 budget introduced Tuesday by Finance Minister Mike de Jong:

FINANCES:

Tuesday, February 21, 2017 | 05:45 PM

North American stock markets smash new records, Restaurant Brands shares rise 7%

TORONTO - The Toronto stock market climbed to a new record high Tuesday, bolstered by a major deal that saw the parent company of Tim Hortons and Burger King buy Popeyes Louisiana Kitchen for US$1.8 billion.

The S&P/TSX composite index jumped 83.74 points at 15,922.37, as shares in Canadian multinational fast-food company Restaurant Brands International (TSX:QSR) soared seven per cent at the close.

Tuesday, February 21, 2017 | 05:25 PM

Most actively traded companies on the TSX

Some of the most active companies traded Tuesday on the Toronto Stock Exchange:

Toronto Stock Exchange (up 83.74 points to 15,922.37):

Tuesday, February 21, 2017 | 05:06 PM

Highlights of the 2017-18 British Columbia budget

VICTORIA - Highlights of British Columbia's 2017-18 budget released Tuesday:

A forecast surplus of $295 million, a fifth consecutive balanced budget with projections to remain in the black for the next two years, with a $223 million surplus in 2019-20.

Tuesday, February 21, 2017 | 05:04 PM

Maple Leaf Foods to buy meatless foods producer for US$140 million

MISSISSAUGA, Ont. - Maple Leaf Foods (TSX:MFI) has announced it will acquire an American company that makes plant-based protein foods for US$140 million and any related costs.

Maple Leaf says it has signed a definitive agreement to buy Lightlife Foods Inc., which makes vegetarian deli meats, chicken, beef, sausages and other meatless foods.

Tuesday, February 21, 2017 | 04:49 PM

Yahoo salvages Verizon deal with $350 million discount

SAN FRANCISCO - Yahoo is taking a $350 million hit on its previously announced $4.8 billion sale to Verizon in a concession for security lapses that exposed personal information stored in more than 1 billion Yahoo user accounts.

The revised agreement, announced Tuesday, eases investor worries that Verizon Communications Inc. would demand a discount of at least $1 billion or cancel the deal entirely.

Tuesday, February 21, 2017 | 04:41 PM